As an architect, you take paying attention to detail very seriously. However, even if your business makes a minor mistake, without errors and omissions for architects insurance coverage, you could be at risk for a long and expensive legal battle.
Errors and omissions for architects insurance coverage protects your business financially in case one of your client alleges that a mistake made by you or one of your employees caused them to suffer from a monetary loss. These errors can take off many different forms, including the following:
- Carelessness—For example, one of your clients constructs a building according to your design plans and then blames you for a water damage or a mold problem.
- Unfulfilled promises— For instance, once of your designers fails to calculate how long the project will take.
- Poor execution–For example, the drainage system your company designed fails to work properly.
This form of insurance will ensure that your business is not held responsible for legal costs in the event that a client sues you, even if the lawsuit works out in your favor.
If you are an architect, it is important to remember that an error could happen at any given time. Due to this, it’s essential that you acquire a professional liability policy before it’s too late and you find yourself involved in an expensive legal battle.